ITT Inc. (NYSE:ITT) Shares Sold by Covea Finance

Covea Finance trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,900 shares of the conglomerate’s stock after selling 34,900 shares during the quarter. ITT accounts for approximately 1.4% of Covea Finance’s portfolio, making the stock its 20th biggest position. Covea Finance owned about 0.27% of ITT worth $31,419,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. purchased a new stake in shares of ITT in the 3rd quarter valued at approximately $67,503,000. Select Equity Group L.P. increased its holdings in ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares during the last quarter. Millennium Management LLC raised its position in ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the period. AQR Capital Management LLC lifted its stake in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ITT in the second quarter valued at $9,936,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

NYSE:ITT opened at $143.58 on Wednesday. ITT Inc. has a 12 month low of $116.59 and a 12 month high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a market capitalization of $11.70 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The business’s fifty day moving average price is $149.71 and its 200 day moving average price is $142.76.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. On average, sell-side analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.319 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. ITT’s dividend payout ratio is presently 21.67%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. KeyCorp raised their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.50.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.